The Global Cerium Market is set to rise from USD 278.963 million in 2025 to USD 345.978 million in 2030, achieving a 4.40% CAGR.
Cerium is a Rare Earth metal element that tarnishes when exposed to atmospheric air. This element is extracted from the ores of Bastnasite and Monazite. It is generally sold in oxide powder form. Cerium oxide is the crucial outlet of cerium having wider adaptability across several industry verticals. The oxide is used in glass and ceramics production, particularly as an addition to glass metal and ceramic glasses, refractory ceramics and glass polishing, catalysts, and others. In pure form, the metal is used in casting alloys, in addition to aluminum, iron, battery, magnesium, and vacuum alloys. The prime reason driving the market growth is the increased adoption of cerium oxide and ceramics across the glass, petroleum, refinery, and other industries. Robust growth in the end-user industry is projected to support the market growth during the forecasted period.
One of the prime reasons driving the cerium industry’s growth is the rising mining of rare earth metals globally. A report published by the US Geographical Survey in January 2021 states that the global mine production of Rare Earth metals increased significantly from 190,000 metric tons in 2018 to 240,000 in 2020. Furthermore, according to the report published by the US Geological Survey, Mineral Commodity Summaries in January 2022, the estimated value of rate-earth compounds and metals that were imported by the United States in 2021 increased from 2020, with their values increasing from US$ 109 million in 2020 to US$ 160 million in 2021. Furthermore, the rate earth was distributed in catalysts consisting of 74%, followed by ceramics and glass consisting of 10%, metallurgical applications and alloys with 6%, polishing with 4%, and others with 6%.
China accounts for the largest production of Rare Earth metals, followed by the USA, Myanmar, and Australia. Increased production of rare Earth metals is expected to significantly contribute towards the production of cerium and hence support the industry's supply side market.
Furthermore, China North Rare Earth Corp was allocated a mining quota for light rare earth of 94,580 tonnes and a smelting quota of 88,010 tonnes in February 2024, resulting in a total mining quota of 40,420 tonnes. This included 30,280 tonnes for light rare earth, 10,140 for ion-absorbed rare earth (medium and heavy rare earth), and a total smelting quota of 38,990 tonnes. Rare earth quotas for Xiamen Tungsten and Guangdong Rare Earth Industry Group have been included in the quotas of China Rare Earth Group for 2024 following moves by China Rare Earth Group to further integrate its rare earth resources over the past year.
Based on the end-user industry, the global cerium industry is segmented into glass, automotive, petroleum, chemical processing, and others. Cerium oxide is widely used across the glass industry vertical for polishing and catalysts. In the automotive industry, cerium is used in catalytic converters in cars, playing a crucial role in the chemical reactions required by the converters. It can escalate the durability of a catalyst installed in cars in the unforeseen event of incomplete combustion cycles in the engine. Owing to the presence of cerium, car converters can operate at a high temperature. It is anticipated that robust growth in the automotive sector will drive significant growth opportunities for Cerium during the forecasted period. With the rise in disposable income, consumer ownership of cars has surged significantly, creating demand for cerium during production by the automotive industry.
In the petroleum and chemical industry, ceramic is widely used in catalyst and catalyst carriers, which perform the task of petroleum refining or chemical processing to manufacture fuels, polymers, pharmaceuticals, and bulk chemicals. Ceramics in the industry is also crucial for the filtration and separation process.
The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.
The cerium market in the Asia-Pacific (APAC) region is witnessing significant growth in great proportions, and this is mostly attributed to the growing use of rare earth elements in a range of industries. As a crucial component in the manufacturing of alloys, catalysts, and glass polishing agents, cerium's applications are expanding, particularly in the electronics and automotive sectors.
In addition, the automotive industry of the APAC region is also expected to be a significant contributor to the cerium's market growth. Cerium contains some catalytic properties that assist in the control of vehicular emissions when the world is striving for emission reduction. As the promotion of eco-friendly strategies takes root, the need for more advanced rare earth elements like cerium, which are essential in clean vehicle strategies, becomes inevitable. Likewise, cerium recycling from electronic products is becoming a trend that is leading to new markets as manufacturers are changing their ways of sourcing this essential component for low-carbon technologies.
There are, however, some constraints to these favorable growth factors. Due to increasing mining activities, there could be fluctuations in cerium prices, which could compromise market structures. Countries attempting to diversify their import sources away from China face a new danger because China is the primary producer of cerium.
The cerium is broadly applied in the glass and automotive industries. With the growing economies of Asia and Africa, the demand for cerium in petroleum and chemical processing is growing.
| Report Metric | Details |
|---|---|
| Total Market Size in 2026 | USD 278.963 million |
| Total Market Size in 2031 | USD 345.978 million |
| Growth Rate | 4.40% |
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Segmentation | Product Type, Mineral Type, Application, Geography |
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies |
|
| Report Metric | Details |
| Cerium Market Size in 2025 | US$278.963 million |
| Cerium Market Size in 2030 | US$345.978 million |
| Growth Rate | CAGR of 4.40% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
|
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in the Cerium Market |
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| Customization Scope | Free report customization with purchase |